In today's rapidly evolving world, technology is having a significant impact on all areas of business, including the quantity surveying and estimating industries in Australia. In the next five years, we can anticipate even greater advancements in technology and automation that will alter the way these industries operate, resulting in increased efficiency, accuracy and speed.
One of the ways technology is currently affecting the quantity surveying and estimating industries is through the implementation of building information modelling (BIM) software. BIM enables quantity surveyors and estimators to construct detailed 3D models of construction projects, offering a more accurate and comprehensive understanding of the project compared to conventional 2D drawings. The Australian Institute of Quantity Surveyors (AIQS) reported a 37% increase in the use of BIM in the past two years.
Remote sensing technology and drones are another area where technology is having a major impact. Drones equipped with high-resolution cameras and sensors are used to survey sites, collect data and even monitor the progress of construction projects, saving time and providing more accurate data than traditional ground surveys. A report by Deloitte in 2022 found that the use of drones in construction projects has increased by 20% and could improve productivity by up to 40% and reduce costs by up to 15%.
Artificial intelligence (AI) and machine learning are currently the biggest trends in the estimating industry. These technologies are being used to automate many manual processes involved in estimating such as data collection and analysis. In a recent survey of construction companies in Australia, 70% of respondents reported a decrease in design changes and a reduction in Requests for Information (RFIs) since incorporating VR and AR into their workflow. The implementation of VR and AR also enables early identification of design and constructability issues, reducing the risk of costly mistakes and delays.
Procore Technologies is one of the leading companies in Australia that is at the forefront of applying technology to the quantity surveying and estimating industries. Procore offers a cloud-based platform that integrates all aspects of project management, from construction documents and cost estimating to project scheduling and team collaboration.
FMI is another company that has developed AI-powered estimating software that automates many of the manual processes involved in construction cost estimating. The software uses machine learning algorithms to analyse construction costs, allowing estimators to create more accurate and reliable estimates.
Despite the benefits of technology, some sectors of construction industry are still hesitant to embrace it due to concerns over cost and the difficulty of integrating new systems into their existing processes. However, Deloitte in 2022 reported that companies who are able to successfully adopt technology, the rewards will be significant in terms of increased efficiency, reduced costs and improved safety.
The next five years will bring significant changes to the quantity surveying and estimating industries as technology continues to drive advancements in automation, accuracy and efficiency. It is crucial for those working in these industries to keep up with these changes and embrace new technologies. By doing so, they will be in a strong position to take advantage of the opportunities that the future of these industries will bring.